US Approves $414 Million Uranium Financing in Niger After Military Rift

The United States has approved up to $414 million in financing for a uranium project in Niger, the developer said, in what people familiar with the matter described as a diplomatic and commercial opening for Washington two years after the West African country ordered all US forces out.

The debt facility from the US Development Finance Corp backs Canadian miner Global Atomic's Dasa project, which the company calls Africa's highest-grade uranium deposit. The approval was announced in a company statement on Wednesday.

The investment could strengthen American access to a strategic uranium supply at a time when Niger, the world's seventh-largest producer of the metal, is locked in a dispute with French state-backed miner Orano, which long dominated the country's uranium sector.

Relations between Washington and Niamey deteriorated after the military government that seized power in a 2023 coup told US troops to leave in 2024. Niger's new leaders have turned to Russian paramilitaries for security rather than Western partners.

Sources briefed on the effort said the US ambassador had pressed Washington to rebuild ties with Niamey and support the project after the Trump administration took office with a renewed emphasis on deal-making in Africa. The project was seen as a chance to secure access to a strategic energy resource that might otherwise fall into the orbit of rival powers, they said.

One source familiar with discussions between Global Atomic and the DFC said a breakthrough came this summer when Chief Executive Stephen Roman travelled to Washington to resolve remaining issues holding up approval. The deal could also provide a rare bright spot in US-Canada relations, which have been strained by a trade war between the neighbours.

Niger's government did not respond to a request for comment.

Security and logistical risks

Despite the financing commitment, the project faces significant security and political risks. Jihadist attacks have repeatedly targeted Niger's government and security forces over the past year, and last month mutinous soldiers attacked a key military airbase and the presidency.

Global Atomic has been exploring alternative routes to export uranium from the landlocked country as transport corridors to the coast have become increasingly risky, a source briefed on the discussions said. One idea has been to invest in a route north through Algeria and across the Sahara Desert. Algeria sent aircraft to Niger this summer to help the government respond to the latest coup attempt, underscoring improving ties between the neighbouring countries.

Uranium was added to the US critical minerals list last year, prompting renewed interest in Niger's reserves. Those reserves include stockpiles caught up in a dispute between Niger's government and Orano, which has launched international arbitration proceedings after losing control of key mining assets in the country.